Bitcoin News Today: Litecoin Price Surges 7% as ETF Approval Odds Hit 80%

Litecoin is showing signs that its prolonged three-year consolidation phase may be coming to an end, driven by a significant rise in the probability of exchange-traded fund (ETF) approval. The likelihood of the U.S. Securities and Exchange Commission (SEC) approving ETFs for Litecoin, submitted by firms such as Grayscale, CoinShares, and Canary Capital, has surged to over 80% [1]. These applications have been set for review between October 2 and October 23 [2]. This development has triggered a sharp price increase, with LTC surging over 7% on August 4 to reach $120, a level not seen since March [1]. The price has climbed nearly 90% from its year-low, while daily trading volume has surged to nearly $900 million and the market cap has reached $9 billion [2].

The optimism is largely fueled by the success of Bitcoin ETFs, which have drawn over $55 billion in inflows since their approval. Litecoin, like Bitcoin, is a proof-of-work cryptocurrency with a capped supply—84 million coins, compared to Bitcoin’s 21 million. Additionally, Litecoin is highly decentralized and liquid, with daily trading volumes sometimes exceeding $1 billion [2]. Institutional interest is also growing, with the Grayscale Litecoin Trust already holding over $246 million in assets [1].

Technically, Litecoin has moved above key resistance levels, including the 50-week and 100-week moving averages, and is now nearing the 23.6% Fibonacci retracement level at $130 [1]. The Relative Strength Index has crossed above the neutral threshold at 50, indicating strengthening bullish momentum. If the price breaks above the $140 resistance level, it could target $227.80, representing a nearly 92% increase from current levels. A drop below the $93 support level, however, could invalidate the bullish outlook [1].

The broader altcoin ETF market is also showing strong demand, with Ethereum ETFs seeing over $10 billion in cumulative inflows and funds for XRP and Solana attracting millions [2]. This environment suggests that an ETF approval for Litecoin could lead to a surge in institutional and retail interest, potentially transforming its market profile.

While some forecasts predict a 900% price rally in Litecoin, it is important to note that such estimates are speculative and not supported by current market data [5]. The growing optimism, however, reflects a broader shift in the crypto landscape, where alternative coins are increasingly being viewed as viable investment options. As the SEC continues to evaluate ETF applications, market participants are closely watching for regulatory clarity and technical confirmations that could either validate or challenge the current bullish momentum [2].

Sources:

[1] Litecoin price three-year consolidation could end as LTC ETF odds jump (https://crypto.news/litecoin-price-three-year-consolidation-could-end-as-ltc-etf-odds-jump/)

[2] LTC Price Surge Signals End of Three-Year Stagnation (https://m.economictimes.com/crypto-news-today-live-04-aug-2025/liveblog/123081462.cms)

[3] BTC dips 1.2% at $120K, could this crypto hit $4 in under a year (https://www.bitcoininsider.org/article/281440/btc-dips-12-120k-could-crypto-hit-4-under-year)

[4] LTCUSD | Litecoin USD Overview (https://www.marketwatch.com/investing/cryptocurrency/ltcusd)

[5] CELOXFI WARNING: Bitcoin Exchange Flows Just Shifted (https://www.instagram.com/p/DM6wKjGxQDG/)